Evidence continues to mount that Mavis Lake could be a transformational lithium asset for Critical with visual spodumene observed in four of the five holes drilled to date.

This includes a standout 18.1m interval from a down-hole depth of 159.1m in the fifth hole (MF22-64) that is estimated to contain about 20% spodumene-bearing pegmatite and represents an at depth extension of the Pegmatite 6 ore body.

Critical Resources’ (ASX:CRR) managing director Alex Biggs noted the intersection was the largest the company had seen so far during its 2022 drill campaign.

“An 18.1m intersection with a high mineral content of ~20% represents a significant milestone in what are still the early stages of our inaugural drill program,” he added.

“Furthermore, to intersect visual spodumene in four of the five initial holes is an excellent outcome.

“The story of Mavis Lake is beginning to unfold and we see this drill campaign as a potentially transformational catalyst for both the project and the company.”

More spodumene hits

Besides the hit in MF22-64, spodumene hosted in pegmatite was also intersected in the second (MF22-61) and fourth (MF22-63) holes.

MF22-61 was drilled to twin and test the validity of a historical hole intersected about 4.2m of pegmatite from 105.75m with about 20% spodumene content

Hole 4 was also drilled to twin and test a historical hole and hit 5.3m of pegmatite from 65m with between 10% and 15% spodumene.

Critical has another 44 or so holes to go in its current drill program, which will enable the company to estimate resources for Mavis Lake.

Mavis Lake project

Mavis Lake is located 19km east of Dryden, Ontario, and has ready access to the Trans-Canada highway and railway major transportation arteries linking larger cities such as Thunder Bay, Ontario, to the southeast and Winnipeg, Manitoba, to the west.

The region is a well-known lithium province that boasts excellent infrastructure such as hydropower located just a few kilometres southwest of the project.




This article was developed in collaboration with Critical Resources, a Stockhead advertiser at the time of publishing.


This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.